European Session EURUSD Feeling Pressure

ที่อัปเดต:
Pivot: 1.1600

Most Likely Scenario: short positions below 1.1600 with targets at 1.1515 & 1.1490 in extension.

Alternative scenario: above 1.1600 look for further upside with 1.1640 & 1.1670 as targets.

Comment: the RSI shows below 50 downside momentum.

Wednesday FOMC:
Fed minutes show support for September rate hike, and suggest trade dispute could then force a pause
Minutes of the Federal Reserve's meeting earlier this month released Wednesday signaled broad support for another interest-rate hike in September. Many officials said that if data continue to support their outlook, "it would likely soon be appropriate to take another step in removing policy accommodation," the minutes said. At the same time, officials said they might have to pause from a gradual rate path if there is an escalation in international trade disputes. Fed officials were unanimous in their view that trade disagreements represented a downside risk to the economy. Given the complex nature of trade issues "a major trade escalation" presented a challenge in determining the appropriate way to respond, some officials said. Fed officials also agreed they would "fairly soon" need to scrap the language describing their policy stance as "accommodative" because the level of rates is getting closer to neutral.
Impact Of News: Stability for US Dollar.

In the meantime, US and Chinese officials began talks in Washington. This Thursday, the latest $16 billion worth of tariffs on Chinese imports will go into effect and could trigger a quick response from the Asian country, resulting in a run to safety. Also Thursday, the macroeconomic calendar will finally have something to offer, with preliminary August Markit PMI for both economies, ECB's Minutes, and EU preliminary Consumer Confidence, among others.

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In US session same as morning idea.
Short level: 1.1575-1.1580
SL: 1.1623
TP- 1.1545-1.1522-1.1500
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In US session mixed data released. In trade EURUSD has tested 1.1528.
Chart PatternsEURUSDeurusdselleurusdshortTrend AnalysisWave Analysis

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